Switching accounts: can I open an account with the same bank after closing one in the recent past?

Rob_Canniff

Grateful if anyone can let me know whether, if I have recently (perhaps in the last 12 months or so) opened and closed an account with a bank, will they allow me to open an account again (if there's a simple answer)?

My query relates to the fact that over the last 12 months I have opened a number of accounts solely for the purpose of closing them and earning a switch bonus from another bank eg. Metro, First Direct, Halifax and Ikano.

In this instance I want to take advantage of another switch offer. So for example would Ikano let me open another account, or do I need to open account with a bank that I haven't previously had an account with?

Thank you

eskbanker

Rob_Canniff said:

Grateful if anyone can let me know whether, if I have recently (perhaps in the last 12 months or so) opened and closed an account with a bank, will they allow me to open an account again (if there's a simple answer)?

No simple answer, they might or they might not, it's entirely up to them whether or not they accept applications....

However, if you do this sort of thing excessively, you run the risk of a permanent ban:

https://forums.moneysavingexpert.com/discussion/6433933/lbg-closing-all-my-accounts-on-18th-may

elsien

It will depend on the bank - if you read the small print of the terms and conditions, they will say something about previous accounts and timescales in order to get the switching bonus but it may be different for each bank, 
So Natwest for example will allow you to open an account but won't give you a switching bonus if 
"you (or in the case of a joint account, either account holder) have already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank 

between 1st October 2017 and 13th February 2023"

MikeJXE

I have done that only waiting a few days in some instances with 

Natwest, Metro, Co-op 

No problem at all 

grumbler

It's wiser to open a second account with the same bank and then switch it than to keep opening and closing.

Rob_Canniff

Thanks everyone. Much appreciated.

Apologies for the delay in reply - I was ill for 10 days and by the time I recovered had forgotten that I had posted the question.

Thanks again!